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Session Laws, 1976
Volume 734, Page 1660   View pdf image
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1660                                     LAWS OF MARYLAND                            Ch. 608

shall not convey or mortgage the Expressway or any part
thereof. Such trust agreement or such resolution may
contain an appropriate reference to the agreement
supplemental to the trust agreement, dated as of October
1, 1954, between the Commission and the
Fidelity—Baltimore National Bank & Trust Company as
hereinbefore provided for in [§ 141] §1 of this
subheading as amended and may provide that any such
pledge or assignment of the tolls and revenues shall be
subject to the provisions of the supplemental agreement
with respect to the assignment of the tolls and revenues
from the bridge to be constructed under the provisions of
this subheading to said Fidelity—Baltimore National Bank
& Trust Company, trustee under said trust agreement,
dated as of October 1, 1954. Such trust agreement or
resolution providing for the issuance of such bonds may
contain such provisions for protecting and enforcing the
rights and remedies of the bondholders as may be
reasonable and proper and not in violation of law,
including covenants setting forth the duties of the
Commission in relation to the acquisition of property and
the construction, improvement, maintenance, repair,
operations and insurance of the Expressway, the rates of
toll to be charged, and the custody, safeguarding and
application of all moneys. It shall be lawful for any
bank or trust company incorporated under the laws of the
State which may act as depositary of the proceeds of
bonds or of revenues to furnish such indemnifying bonds
or to pledge such securities as may be required by the
Commission. Such trust agreement may set forth the
rights and remedies of the bondholders and of the
trustee, and may restrict the individual right of action
by bondholders. In addition to the foregoing, such
trust agreement or resolution may contain such other
provisions as the Commission may deem reasonable and
proper for the security of the bondholders. All
expenses incurred in carrying out the provisions of such
trust agreement or resolution may be treated as a part of
the cost of the operation of the Expressway.

§9. [§ 149.] Tolls and other revenues.

(a) Authority of Commission to fix tolls and
contract for use of Expressway; pledge of revenues. —The
Commission is hereby authorized to fix, revise, charge
and collect tolls for the use of the Expressway and any
part or section thereof, including tolls for the use of
the bridge across the Susquehanna River authorized to be
constructed by the provisions of this subheading which
such tolls shall not be less at the time of the
collection thereof than the tolls charged at such time of
passage of similar vehicles under similar circumstances
over the present Susquehanna River bridge, and to
contract with any person, partnership, association or
corporation desiring the use of any part thereof,
including the right—of—way adjoining the paved portion,
for placing thereon telephone, telegraph, electric light
or power lines, and restaurants, or for any other purpose

 

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Session Laws, 1976
Volume 734, Page 1660   View pdf image
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